Loomis Sayles & Co. L P Raises Holdings in Loar Holdings, LLC (NYSE:LOAR)

by · The Markets Daily

Loomis Sayles & Co. L P lifted its position in shares of Loar Holdings, LLC (NYSE:LOAR – Free Report) by 47.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 275,500 shares of the company’s stock after acquiring an additional 88,429 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Loar were worth $20,550,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LOAR. Abrams Capital Management L.P. purchased a new stake in shares of Loar during the second quarter worth $2,052,780,000. Federated Hermes Inc. purchased a new stake in Loar during the 2nd quarter worth about $38,952,000. Fred Alger Management LLC bought a new position in Loar in the 2nd quarter worth about $13,085,000. Zweig DiMenna Associates LLC purchased a new position in Loar during the 2nd quarter valued at about $9,208,000. Finally, TimesSquare Capital Management LLC increased its position in shares of Loar by 57.3% during the third quarter. TimesSquare Capital Management LLC now owns 410,509 shares of the company’s stock valued at $30,620,000 after buying an additional 149,460 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price objective on shares of Loar in a research report on Thursday, November 14th. Morgan Stanley raised their price target on shares of Loar from $75.00 to $89.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Finally, Citigroup upped their price target on shares of Loar from $64.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th.

View Our Latest Stock Analysis on Loar

Loar Price Performance

Shares of Loar stock opened at $89.25 on Wednesday. The company has a current ratio of 3.95, a quick ratio of 2.28 and a debt-to-equity ratio of 0.78. Loar Holdings, LLC has a 1 year low of $42.57 and a 1 year high of $96.60. The company has a 50 day simple moving average of $80.42 and a two-hundred day simple moving average of $68.04.

Loar (NYSE:LOAR – Get Free Report) last announced its earnings results on Wednesday, November 13th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $103.52 million during the quarter, compared to analysts’ expectations of $97.30 million. The company’s revenue was up 25.0% compared to the same quarter last year. As a group, research analysts anticipate that Loar Holdings, LLC will post 0.28 earnings per share for the current fiscal year.

Loar Profile

(Free Report)

Loar Holdings Inc, through its subsidiaries, designs, manufactures, and markets aerospace and defense components for aircraft, and aerospace and defense systems in the United States and internationally. It offers products in various categories, which include airframe components, structural components, avionics, composites, braking system components, de-ice and ice protection, electro-mechanical, engineered materials, flight controls, fluid and motion controls, environmental, metal forming, molded components, and restraints and safety devices.

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